SEA (NYSE:SE) Shares Gap Up on Analyst Upgrade

Sea Limited (NYSE:SE)’s stock price gapped up before the market opened on Monday after Bank of America raised their price target on the stock from $84.00 to $96.00. The stock had previously closed at $85.71, but opened at $87.77. Bank of America currently has a buy rating on the stock. SEA shares last traded at $89.52, with a volume of 1,422,747 shares trading hands.

Other analysts have also issued research reports about the stock. Loop Capital upped their target price on shares of SEA from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Wedbush reiterated an “outperform” rating and issued a $84.00 target price (up previously from $76.00) on shares of SEA in a research note on Tuesday, August 13th. Benchmark upped their target price on shares of SEA from $87.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. TD Cowen upped their target price on shares of SEA from $64.00 to $69.00 and gave the stock a “hold” rating in a research note on Wednesday, August 14th. Finally, Citigroup reduced their target price on shares of SEA from $81.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.92.

Institutional Investors Weigh In On SEA

Several institutional investors have recently added to or reduced their stakes in SE. Canton Hathaway LLC lifted its holdings in shares of SEA by 20.0% in the second quarter. Canton Hathaway LLC now owns 1,200 shares of the Internet company based in Singapore’s stock worth $86,000 after buying an additional 200 shares in the last quarter. Gulf International Bank UK Ltd lifted its holdings in shares of SEA by 0.7% in the second quarter. Gulf International Bank UK Ltd now owns 28,958 shares of the Internet company based in Singapore’s stock worth $2,068,000 after buying an additional 213 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of SEA by 5.2% in the second quarter. Parallel Advisors LLC now owns 5,063 shares of the Internet company based in Singapore’s stock worth $362,000 after buying an additional 250 shares in the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of SEA by 63.1% in the second quarter. Hexagon Capital Partners LLC now owns 654 shares of the Internet company based in Singapore’s stock worth $47,000 after buying an additional 253 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of SEA by 121.3% in the first quarter. GAMMA Investing LLC now owns 613 shares of the Internet company based in Singapore’s stock worth $33,000 after buying an additional 336 shares in the last quarter. 59.53% of the stock is owned by hedge funds and other institutional investors.

SEA Stock Performance

The stock has a market capitalization of $53.18 billion, a PE ratio of 1,858.40 and a beta of 1.51. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.49 and a quick ratio of 1.48. The business’s fifty day moving average price is $74.71 and its 200-day moving average price is $68.73.

SEA (NYSE:SE) last posted its quarterly earnings data on Tuesday, August 13th. The Internet company based in Singapore reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.45). The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.73 billion. SEA had a negative return on equity of 2.92% and a negative net margin of 1.36%. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter last year, the company posted $0.54 earnings per share. As a group, equities research analysts expect that Sea Limited will post 0.64 EPS for the current year.

About SEA

Sea Limited, together with its subsidiaries, engages in the digital entertainment, e-commerce, and digital financial service businesses in Southeast Asia, Latin America, rest of Asia, and internationally. It offers Garena digital entertainment platform for users to access mobile and PC online games, as well as promotes eSports operations.